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Old 09-21-2004, 03:45 PM   #1
stocktrader23
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Question about Ibill

"IBill claims that by noon on Sept. 16, the day after its official contract with First Data expired, the credit card processor would no longer process iBill's credit card transactions, leaving iBill in the lurch and unable to continue to service its customer base of more than 4,000 Internet-based clients. "

If they aren't able to process cards why does nobody see a problem with signups?
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Old 09-21-2004, 03:48 PM   #2
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I'm wondering the same thing. So far no one answered me in the other thread
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Old 09-21-2004, 03:48 PM   #3
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Because they got a court order so first data has to keep processing til they go to court.
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Old 09-21-2004, 04:00 PM   #4
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Quote:
Originally posted by tony404
Because they got a court order so first data has to keep processing til they go to court.
Not sure where you saw that. Here is what I'm reading on the pdf that was linked.

"Despite its repeated assurances taht it would extend the Agreement, First Data informed iBill at noon on September 16th, 2004, that at 4:00 p.m. on the same day it would no longer process iBill's credit-card transactions.

ibill is now left without any credit-card processor, and is unable to continue servicing its customers. As a result of First Data's actions iBill is losing approximately $800,000 a day. At this rate, Ibill will have to close its business by early next week."
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Old 09-21-2004, 04:01 PM   #5
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Quote:
Originally posted by tony404
Because they got a court order so first data has to keep processing til they go to court.
Bro this reminds me of a line out of a Styx song....

"Your fooling yourself..."
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Old 09-21-2004, 04:09 PM   #6
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Originally posted by GonZo
Bro this reminds me of a line out of a Styx song....

"Your fooling yourself..."
From what was posted I'm either missing something or it's from another source. All I see is their processing was halted, haven't found where a court order is making First Data process until the deal tomorrow. Maybe I'm blind.
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